Accolade price target lowered to $16 from $18 at Canaccord

Canaccord analyst Richard Close lowered the firm’s price target on Accolade to $16 from $18 and keeps a Buy rating on the shares. The firm said results outperformed estimates with the 4Q but guidance was below estimates. Canaccord recommends long-term investors look past this and accumulate shares on any weakness as this has happened several years in-a-row and the ultimate result is fiscal year estimates moving higher as the year progresses.